H&M’s subsidiary Cos is launching a digital resale platform allowing shoppers to sell and buy used clothing in a major sustainability push.
Cos is set to launch its new “Re-sell” platform later this month in the UK and Germany ahead of a global roll out throughout autumn.
Re-sell, one of the first brand-specific resale platforms to be launched, will allow users to “re-invent their wardrobe in a considered and sustainable way” by selling their old Cos clothes and searching through the brand’s “community-curated” archive’s for new items.
Sellers will be given the power to list their items how the like, set their own price and handle postage, paying 10 per cent commission on everything they sell to “cover the operational costs”.
“Resell reinforces Cos’ ambition and journey to becoming fully circular and renewable, developing innovative ways to continue the brand’s commitment to quality and longevity by re-imaging the lifecycle of each pre-loved piece,” Cos said in a statement.
According to the 2020 Resale Report from GlobalData and ThredUp the resale clothing market is set to more than double to $64 billion in the next five years, growing 25 times faster than the wider retail market.
H&M Group told Vouge Business: “It’s in our interest to sell everything we produce. That said, the way we design, produce and enjoy fashion simply must change.
“As a global fashion retailer, H&M Group has a big role to play and this is the reason why we are transforming our whole business to become fully circular and climate positive.”